What does each status in the Transfer Manager really mean?

Here is a legend of the statuses in the Transfer Manager and what they mean:

Pending WHOIS Check: We must query the registry WHOIS in order to get the contacts and for the domain so we may then send our transfer confirmation email.

Emailing Transfer Requests: We are preparing to send out the email confirmation request.

Pending User Confirmation: We have sent our confirmation email and are now waiting for an acknowledgement from the administrative contact for the domain(s).

Attempting Transfer: We are submitting the transfer request to the registry, this is typically when we find out if the domain is locked or the auth code is invalid.

Finalizing Transfer: The transfer has been submitted to the registry and we are waiting for them to complete the request. We check the status with the registry several times daily to see if the transfer has completed.

Cancelled: The transfer was cancelled; this may have occurred due to one of the following issues not being resolved within 14 days:

You did not respond to our confirmation request that was sent to the domain's administrative contact.